Factoring company doing cold calls trying to get sales.This is where they "buy" your outstanding invoices for a fraction of the cost and then keep a percentage of the rest when they get the full payment, wiring you the remaining. They were not rude, but were very hard to understand. What they do is basically, you sell a $1000 invoice to them, they send you $800 immediately. Then they go after the customer. When they get the $1000 payment, they wire the remaining $200 to you less their fees - which are usually ridiculous - in this instance you would probably only get $65 back, since they would take out two wire fees if $20 each, a 6% fee (that is LOW) of $60 and then their 3.5% admin fee, $35. It's crazy.
Factoring company doing cold calls trying to get sales.This is where they "buy" your outstanding invoices for a fraction of the cost and then keep a percentage of the rest when they get the full payment, wiring you the remaining. They were not rude, but were very hard to understand. What they do is basically, you sell a $1000 invoice to them, they send you $800 immediately. Then they go after the customer. When they get the $1000 payment, they wire the remaining $200 to you less their fees - which are usually ridiculous - in this instance you would probably only get $65 back, since they would take out two wire fees if $20 each, a 6% fee (that is LOW) of $60 and then their 3.5% admin fee, $35. It's crazy.
Keeps calling every morning at the same time. They don't say a word then hang up. We have tried calling the number back and it says the number is no longer in service.